WeRide (NASDAQ:WRD) Shares Down 7.3% - Here's What Happened

Key Points

• WeRide shares fell 7.3% to about $5.98, with trading volume down 92% from the average session. The stock traded below its 200-day moving average of $6.82.
• Analyst sentiment remains broadly positive despite the decline: seven analysts rate the stock Buy, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $12.27.
• WeRide reported a quarterly loss of $0.18 per share on $34.11 million in revenue and continues to operate with negative profitability metrics, including a net margin of -199.09%.

WeRide Inc. (NASDAQ:WRD - Get Free Report)'s share price was down 7.3% during trading on Monday . The stock traded as low as $6.04 and last traded at $5.9770. 278,124 shares changed hands during trading, a decline of 92% from the average session volume of 3,447,454 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

WRD has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of WeRide from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of WeRide from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Morgan Stanley reissued an "overweight" rating and set a $12.00 target price on shares of WeRide in a report on Wednesday, August 19th. Finally, Bank of America reaffirmed a "buy" rating and set a $10.70 price target on shares of WeRide in a research note on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.27.

WeRide Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.00 and a current ratio of 5.36. The company's 50 day moving average price is $5.89 and its 200-day moving average price is $6.82. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -7.93 and a beta of 1.89.

WeRide (NASDAQ:WRD - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $34.11 million for the quarter. WeRide had a negative return on equity of 24.12% and a negative net margin of 199.09%. On average, equities research analysts forecast that WeRide Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WeRide

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of WeRide during the first quarter valued at $27,000. JPMorgan Chase & Co. purchased a new position in WeRide in the 2nd quarter worth about $30,000. First Trust Advisors LP acquired a new stake in WeRide during the 2nd quarter worth about $98,000. Marshall Wace LLP acquired a new stake in WeRide during the 2nd quarter worth about $326,000. Finally, Vienna Asset Management LLC purchased a new stake in WeRide during the second quarter valued at about $1,128,000.

WeRide Company Profile

WeRide Inc NASDAQ: WRD is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company's full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.

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